All Retail articles – Page 38
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News briefs
Russian shoe market nearly 3 times larger than previously estimated
The recent introduction of mandatory tagging of footwear in Russia has shown that up to 1.3 billion pairs of shoes are sold in the country on average per year. This is nearly three times more than previous official estimates, said Denis Manturov, the Russian industry and trade minister The tagging ...
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Article
Klarna valued $10.65 billion in funding round
Klarna, the Swedish provider of online payment services, raised $650 million in an equity funding round, which values the whole company $10.65 billion. Klarna claims that the valuation ranks it as the highest-valued private fintech in Europe and the 4th worldwide. The funding round was led by Silver Lake, a ...
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Article
Santoni sees 2020 sales down by 20-30%
Santoni expects 2020 sales to drop by 20-30 percent from the €83 million posted in 2019 due the impact of the Covid-19 pandemic. The Italian brand of high-end shoes anticipates to resume growing in 2021 but the target of reaching an annual turnover of €100 million within a couple of ...
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Article
Tretorn reinforces its management team in its move to accelerate DTC shift
Tretorn, the Swedish footwear and outerwear brand, continues to reinforce its management team as it seeks to overhaul its business model and develop direct-to-consumer channels. In the summer of 2019, the company, which was established in 1891, appointed Magnus Månsson as its new chief executive. Before joining Tretorn, Månsson served ...
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ArticleLGBTQ collections become mainstream for the fashion, sportswear industry
The LGBTQ (lesbian, gay, bisexual, transexual and queer) fashion market has been growing over the last decade. In recent years, an unprecedented number of mainstream brands have begun to release LGBTQ collections.
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News briefsAllbirds enters South Korea
Allbirds, the Californian brand of sustainable footwear, has entered the South Korea market. The brand was created in 2016 by Joey Zwillinger and Tim Brown with one model, the Wool Runner, which uses superfine merino wool from New Zealand. Allbirds said that it had planned to enter the Korean market ...
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News briefs
L.K. Bennett introduces cluster managers
The British premium womenswear retailer L.K. Bennett has introduced cluster managers who will be responsible for more than one location. The move will result in 19 redundancies. The company said that the reorganization stems from a decline in trade in stores, while the retailer has seen a significant increase in ...
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ArticleDesigner Brands sees challenging H2 as Q2 sales fall by 42.8%
The American shoe retailer Designer Brands, formerly known as DSW, expects the Covid-19 pandemic will continue to have a significant impact on its business in the second half of 2020, with a double-digit decline in sales likely and a return to profitability seen as “challenging.” As consumer preference shifts from ...
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ArticleOffice obtains rescue package ahead of store closures
The South African retailer Truworths will provide a £6.5 million (€7.3m-$8.6m) secured revolving credit facility to its British footwear unit Office as part of a rescue package. It noted that the funds will come from existing group cash reserves and will be distributed in a phased manner over the next ...
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News briefsWalmart launches Walmart+ membership program
Walmart is launching the membership program Walmart+, its much anticipated response to Amazon Prime. Membership will be available to all U.S. customers on Sept. 15. It will cost $98 a year or $12.95 a month and includes a 15-day free trial period. Members will receive unlimited free delivery from stores, ...
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ArticlePayPal to launch buy now, pay later solution in Q4
PayPal, the American online payment provider, announced that it will launch early in the fourth quarter “Pay in 4”, a short-term installment payment scheme for customers in the U.S. The service will permit merchants to be paid upfront while customers can pay for purchases between $30 and $600 over a ...
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ArticleMK Gruppe and Merkur Shoe Group join forces
The German purchasing groups MK Gruppe and Merkur Shoe Group have struck a deal to work together in a bid to tackle and respond to the changes in the footwear market through a shared strategy. The collaboration is set to start with the orders for the autumn/winter 2021 season ...
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News briefs
Russian shoe market may recover from mid-2021
The most optimistic forecast envisages that the sales on the Russian fashion market will recover only around mid-2021, Anna Lebsac-Kleimans, director of the Russian analytical agency Fashion Consulting Group said. In 2020, sales are likely to contract by 25 to 40 percent compared to the previous year, she said. The ...
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ArticleObuv Rossii parent launches capital hike to finance its development
OR PJSC, the parent company of the Russian footwear group Obuv Rossii, is planning to place additional shares worth 2.8 billion rubles (€31.7m-$37.4m) to finance the group’s development. The company is offering 28,264,000 new ordinary shares, which corresponds to 24 percent of the previously placed ordinary shares. In 2017, OR ...
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News briefsFinn Comfort and Kaufregional bring businesses and customers together
Finn Comfort, the German comfort shoe manufacturer, has joined the Kaufregional e-commerce platform in a bid to boost its visibility in the local market and gain access to an additional sales channel as the coronavirus crisis drags on. Finn Comfort was established 75 years ago in the small town of ...
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News briefs
Wolverine adopts First Insight's consumer analytics
Wolverine Worldwide has announced a strategic partnership with First Insight under which it will deploy its Voice of the Customer predictive analytics solution across its portfolio of 12 brands, including Merrell, Sperry, Saucony, Hush Puppies and Keds. The deal follows a successful test conducted by Hush Puppies in different regions ...
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News briefsCamtrade rebranded The Enjoiya Group
The U.S. women’s wholesale footwear firm Camtrade has changed names to The Enjoiya Group. The company manufactures and distributes three shoe brands, Enjoiya, Secret Celebrity and Soft Comfort. They have an emphasis on comfort and fit, with price-value also a key component in the market positioning. Enjoiya is the company’s ...
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News briefs
Mall operator in Spain sees worrying decline in July traffic
After a significant improvement in June, the footfall in Spanish malls managed by MVGM, the Dutch property management company, dropped sharply in July, raising concern that the sector may not enjoy a rapid recovery. Data released by the company, which oversees 1.1 million square meters of shopping space in Spain, ...
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News briefs
ABG, SPARC picked to buy Brooks Brothers for $325 million
The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as a going ...
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Article
German shoe industry joins forces to launch data sharing platform
Germany’s shoe industry has joined a wide-ranging alliance to set up a data exchange and clearing platform for the sector. The footwear buying groups ANWR and Sabu, the shoe and leather goods industry association HDS/L and the merchandise management providers ETOS and Brandt Retail groups have agreed on a joint ...
